By Nneka Nwogwugwu
The Central Bank of Nigeria (CBN) and the Rice Farmers Association of Nigeria (RIFAN) are collaborating to build one million rice pyramid in Abuja by January 2022.
The CBN’s Head, Development and Finance Office, Abdullahi Baba-Isa, who hinted this on Saturday, said the government’s intervention in rice farming is already yielding positive results.
Baba-Isa, at the launching of the 2021 wet season farming recovery effort under the Federal Government’s Anchor Borrowers Programme in Kurjale community, Gombe State, said that the pyramid will expose the gains of the partnership between the apex bank and the association.
Baba-Isa said that CBN’s intervention in providing inputs is to crash the price of rice, boost food security, create jobs and improve the wellbeing of farmers in rural areas.
He said that the apex bank is trying to maximize Nigeria’s potential in rice production as a measure toward conserving external reserve, discourage importation and boost local production.
According to him, the impact of Federal Government’s intervention in rice production accounted for why the country is able to ensure food availability during COVID-19 lockdown when food importation was halted.
“The Anchor Borrower Programme has made a lot of positive impact on our economy, output and even the national food security system has improved.”
He appealed to them to continue to pay their loans, so as to encourage government to accommodate more farmers in the programme in 2022.
Source: Greenbarge Reporters
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